(Reuters) -Eli Lilly hit $1 trillion in market value on Friday, making it the first drugmaker to enter the exclusive club dominated by tech giants and underscoring its rise as a weight-loss powerhouse.
Here are some reactions to Lilly joining the trillion dollar club:
EVAN SEIGERMAN, ANALYST AT BMO CAPITAL MARKETS
"The current valuation points to investor confidence in the longer-term durability of the company's metabolic health franchise. It also suggests that investors prefer Lilly over Novo in the obesity arms race. Taking a step back, we're also seeing money rotate into the sector as investors may be worried about an AI bubble."
HANK SMITH, DIRECTOR & HEAD OF INVESTMENT STRATEGY AT LILLY SHAREHOLDER HAVERFORD TRUST
"Investors have historically liked secure earnings growth and (Eli Lilly) is the only large cap pharma that has that kind of earnings profile."
(Reporting by Siddhi Mahatole and Shashwat Chauhan in Bengaluru; Editing by Leroy Leo)
latest_posts
- 1
Cyclone causes blackout, flight chaos in Brazil's Sao Paulo - 2Europe's powerful Ariane 6 rocket launches Sentinel-1D Earth-observation satellite to orbit (video)
- 3New York to require social media platforms to display mental health warnings
- 4Activist vessel collides with krill trawler in Antarctic confrontation
- 52024 Eurovision winner Nemo returns trophy over Israel's participation
- Pleasant Cycle Courses All over the Planet
- Here's what the Artemis 2 astronauts will be doing on each day of NASA's historic moon mission
- NASA troubleshoots Artemis II toilet problem in otherwise smooth flight
- The Main 15 Powerful Business Heads of Today
- Iran slams UN nuclear watchdog for failing to condemn Bushehr attacks
- UPM Adhesive Materials plans new facility near New Delhi, India
- The Golden Globes gift bag has nearly $1 million worth of swag for some winners and presenters. What's in it?
- Can scientists detect life without knowing what it looks like? Research using machine learning offers a new way
- The 10 Most Significant Virtual Entertainment Missions
